{
  "title": "Russian Federation: 2009 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion",
  "publication": "IMF Staff Country Reports, August 7, 2009",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/russian-federation-2009-article-iv-consultation-staff-report-staff-statement-public-23176",
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  "summary": "This 2009 Article IV Consultation highlights that the banking system of the Russian Federation is under increasing strain, and private sector credit is contracting.",
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      "heading": "Summary",
      "content": "- The 2009 Article IV Consultation highlights that the banking system of the Russian Federation is under increasing strain, and private sector credit is contracting.\n- The authorities’ response to the crisis has been swift and substantial, driven by concerns that weaknesses in the banking and corporate sectors could lead to a full-fledged crisis.\n- Executive Directors commended the authorities for a swift and substantial policy response.\n- Directors encouraged the authorities to take a more proactive and concerted approach to tackling the problems in the banking sector."
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      "heading": "Major findings and themes",
      "content": "- Banking system under increasing strain.\n- Contraction in private sector credit.\n- Weaknesses in the banking and corporate sectors pose risks of a full-fledged crisis.\n- Authorities implemented a swift and substantial policy response.\n- Executive Directors both commended the response and urged more proactive, concerted action on banking-sector problems."
    },
    {
      "heading": "Subject areas and keywords",
      "content": "- Subject: Banking, Correspondent banking, Credit, External debt, Financial services, Money, Oil prices, Prices, Public debt\n- Keywords: carry trade, consultation, consultation informational annex, Correspondent banking, CR, Credit, first-quarter downturn, fiscal policy, Global, ISCR, monetary policy, oil price, Oil prices, recapitalization plan\n\n---\n\n Content in this bundle\n\n- cr09246\n  - cr09246 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr09246 (PDF){rel=\"external\" type=\"application/pdf\"}\n- cr09246r\n  - cr09246r (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr09246r (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: August 7, 2009",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451833195.002",
    "The 2009 Article IV Consultation highlights that the banking system of the Russian Federation is under increasing strain, and private sector credit is contracting.",
    "The authorities’ response to the crisis has been swift and substantial, driven by concerns that weaknesses in the banking and corporate sectors could lead to a full-fledged crisis.",
    "Executive Directors commended the authorities for a swift and substantial policy response.",
    "Directors encouraged the authorities to take a more proactive and concerted approach to tackling the problems in the banking sector.",
    "Contraction in private sector credit.",
    "Weaknesses in the banking and corporate sectors pose risks of a full-fledged crisis.",
    "Authorities implemented a swift and substantial policy response.",
    "Executive Directors both commended the response and urged more proactive, concerted action on banking-sector problems.",
    "Subject: Banking, Correspondent banking, Credit, External debt, Financial services, Money, Oil prices, Prices, Public debt",
    "Keywords: carry trade, consultation, consultation informational annex, Correspondent banking, CR, Credit, first-quarter downturn, fiscal policy, Global, ISCR, monetary policy, oil price, Oil prices, recapitalization plan",
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